BUSINESS
By BLOOMBERG NEWS | June 25, 2003
MEMPHIS, Tenn. - FedEx Corp., the world's largest overnight-delivery company, said yesterday that its profit rose 19 percent in its fiscal fourth quarter because it delivered more packages to homes. Net income rose to $280 million, or 92 cents a share, in the quarter that ended May 31 from $236 million, or 78 cents, a year earlier. But the company said demand this month has been below its expectations because of a "sluggish" U.S. economy. FedEx has been gaining in the ground delivery market dominated by United Parcel Service Inc. since adding its home delivery service in 2000.
BUSINESS
By ANDREW LECKEY | June 19, 2005
Q. I have used UPS Inc. and FedEx Corp. for deliveries and was wondering which is the better stock investment. Your thoughts? - J.C., via the Internet A. They're in a dogfight and constantly barking up each other's tree. UPS is the world's largest shipping carrier. FedEx is the world's largest express shipping carrier. There's been good and bad news for UPS lately. In an impressive $1.25 billion cash acquisition that is sure to increase competition with FedEx, it is acquiring the "less than truckload" carrier Overnite Corp.
BUSINESS
By KNIGHT RIDDER/TRIBUNE | August 11, 2005
WASHINGTON - Skyrocketing crude oil prices are hitting Americans in the wallet in ways they might not imagine, increasing the price of everything from pizza delivery to patching a leaky roof. This week, gasoline costs $2.37 a gallon on average, reflecting global crude prices that soared past $64 a barrel. A year ago, oil cost $44 a barrel and gasoline was $1.89 per gallon. Many U.S. companies are passing on their rising fuel costs to their customers. Most large airlines charge per-ticket fuel surcharges of $20 to $87 for international travel, and many domestic fares have jumped more than $100.
BUSINESS
By BLOOMBERG NEWS | February 19, 1998
WASHINGTON -- Federal Express Corp. and federal aviation regulators are squaring off over how much cargo certain Boeing Co. 727 freighter planes can safely carry.Last July, the Federal Aviation Administration told FedEx, United Parcel Service and other airlines flying converted Boeing 727s that it intended to reduce their payloads by more than half until changes are made to strengthen the planes' floor decks.The FAA proposed cutting cargo loads to no more than 3,000 pounds from the existing limit of 8,000 pounds per container.
BUSINESS
By NEW YORK TIMES NEWS SERVICE | December 31, 2003
FedEx Corp. said yesterday that it had agreed to acquire Kinko's, the privately held copy center operator, for $2.4 billion in cash in an effort to win more small business customers and enhance its competitive position with United Parcel Service, its main rival. FedEx is buying Kinko's from Clayton, Dubilier & Rice, the private equity firm that controls the company. A fund managed by Clayton, Dubilier made its first investment in Kinko's in 1996, when it acquired a 29.6 percent equity stake in the company.
NEWS
By Gus G. Sentementes and Annie Linskey and Gus G. Sentementes and Annie Linskey,Sun reporters | July 5, 2008
When it absolutely, positively had to get there, someone in Florida used FedEx to ship marijuana to addresses in the Baltimore area. But the shipping company botched one of the deliveries, triggering an undercover operation that led to the arrest of a city man and the seizure of 600 pounds of the drug, police said yesterday. Police were tipped off when four boxes were mistakenly delivered Tuesday to a Northeast Baltimore resident who opened one and discovered a "large shrink wrapped bundle of a green plant material," charging documents say. City officers and Maryland State Police troopers posed as FedEx employees the next day to snare the intended recipient of the 200-pound shipment.